|
|
|
Construction Industry News Releases
|
Home | Submit Press Release | Advertise | Submit Website
(Construction.IndustryNews247.Com, May 31, 2018 ) Beirut, Lebanon -- Benjamin Ballout the CEO of Enerkon Solar International Inc. announced today that he successfully purchased Specialized Construction Company (SCC) a Major Saudi Arabian Construction Company in operation for several decades.
SCC was valued in 2014 in an official valuation report issued by Deloitte at nearly $138 Million USD, while today it is worth much less due to debt load and other organizational issues.
The purchase is considered a turn -around transaction and was advised by the Law Firm Maalouf Ashford & Talbot who has been named "Law Firm of the Year" for 2018 in 54 different categories and in 10 different countries including: the United States, Dubai, Kingdom of Saudi Arabia, Egypt, Qatar, Bahrain, Lebanon, United Kingdom, China and Brazil.
Mr. Ballout Stated that he plans in the future, after turn around of debts and restructuring, to merge the operation into Enerkon Solar International Inc.
Mr. Ballout further Plans to list the private company independently on the UK AIM for enhanced valuation of the company equity.
This press release contains certain "forward-looking" statements, defined in the United States Private Securities Litigation Reform Act of 1995, that involve a number of risks and uncertainties. Statements, which are not historical facts, are forward-looking statements. The company, through its management, makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors, factors that could cause actual results to differ materially from those estimated by the Company. This press release is provided for information purposes only and is not intended to constitute an offer to sell or a solicitation of an offer to buy securities.
Enerkon Solar International Inc.
Benjamin Ballout
+15614317762
info@enerkoninternational.com
Source: EmailWire.Com 
|
|
|
|
Construction News by Sector
|
|
|
|
Industrial News TV
|
